Mn Services Vermogensbeheer B.V. Sells 16,600 Shares of Abbott Laboratories (NYSE:ABT)

Mn Services Vermogensbeheer B.V. trimmed its position in shares of Abbott Laboratories (NYSE:ABT) by 2.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 671,600 shares of the healthcare product maker’s stock after selling 16,600 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Abbott Laboratories were worth $76,569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in ABT. Vanguard Group Inc. raised its stake in Abbott Laboratories by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock worth $18,788,216,000 after acquiring an additional 8,834,840 shares during the period. Capital International Investors lifted its position in shares of Abbott Laboratories by 9.1% in the first quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock valued at $7,976,382,000 after acquiring an additional 5,882,780 shares in the last quarter. Swedbank AB bought a new stake in Abbott Laboratories during the 1st quarter valued at approximately $341,777,000. Sessa Capital IM L.P. purchased a new stake in Abbott Laboratories in the 2nd quarter worth $264,876,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Abbott Laboratories by 493.1% in the second quarter. Assenagon Asset Management S.A. now owns 2,401,190 shares of the healthcare product maker’s stock worth $249,508,000 after purchasing an additional 1,996,320 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ABT. Morgan Stanley increased their target price on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Piper Sandler Companies assumed coverage on Abbott Laboratories in a research report on Thursday, September 19th. They issued an “overweight” rating and a $131.00 price target for the company. Edward Jones lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. UBS Group increased their target price on shares of Abbott Laboratories from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, Evercore ISI upped their price target on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus target price of $129.67.

Insider Buying and Selling

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the sale, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at approximately $25,617,068.19. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is currently owned by corporate insiders.

Abbott Laboratories Stock Up 0.2 %

NYSE ABT traded up $0.23 on Monday, hitting $118.83. The stock had a trading volume of 1,445,668 shares, compared to its average volume of 5,707,573. Abbott Laboratories has a 52-week low of $92.43 and a 52-week high of $121.64. The business’s fifty day moving average price is $114.93 and its 200 day moving average price is $108.86. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18. The stock has a market cap of $206.75 billion, a price-to-earnings ratio of 36.05, a price-to-earnings-growth ratio of 2.67 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The company had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a net margin of 13.99% and a return on equity of 20.30%. Abbott Laboratories’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the business earned $1.14 EPS. Equities research analysts anticipate that Abbott Laboratories will post 4.67 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.85%. Abbott Laboratories’s payout ratio is currently 66.87%.

Abbott Laboratories Company Profile

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.